Ardagh Metal Packaging (NYSE:AMBP) Hits New 1-Year High at $4.17

Ardagh Metal Packaging S.A. (NYSE:AMBP) reached a new 52-week high during trading on Monday . The company traded as high as $4.17 and last traded at $4.10, with a volume of 113642 shares changing hands. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

AMBP has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Ardagh Metal Packaging in a report on Monday, March 18th. They set an “underweight” rating and a $3.20 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Barclays cut shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a research note on Monday, January 8th. Truist Financial reiterated a “hold” rating and issued a $3.00 price objective (down from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Finally, Bank of America downgraded shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $4.10 to $3.50 in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Ardagh Metal Packaging has an average rating of “Hold” and an average target price of $4.31.

Ardagh Metal Packaging Price Performance

The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.58 and a current ratio of 0.92. The firm’s fifty day moving average price is $3.48 and its 200-day moving average price is $3.57.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 55.91%. Ardagh Metal Packaging’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.17 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 9.98%. Ardagh Metal Packaging’s dividend payout ratio is currently -285.69%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently made changes to their positions in AMBP. BW Gestao de Investimentos Ltda. lifted its stake in Ardagh Metal Packaging by 771.2% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 2,783,639 shares of the company’s stock valued at $8,713,000 after acquiring an additional 2,464,105 shares during the period. Grizzlyrock Capital LLC purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at about $9,360,000. Brightline Capital Management LLC acquired a new position in Ardagh Metal Packaging in the fourth quarter valued at about $8,582,000. ING Groep NV lifted its position in Ardagh Metal Packaging by 548.0% in the fourth quarter. ING Groep NV now owns 1,756,000 shares of the company’s stock valued at $6,743,000 after buying an additional 1,485,000 shares during the last quarter. Finally, Angeles Wealth Management LLC acquired a new position in Ardagh Metal Packaging in the fourth quarter valued at about $1,863,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.